As a display medium that allows for reversible recording and erasing of information by means of heat, there is disclosed, for example, a reversible multicolor recording medium in which a plurality of recording layers that reversibly produce color in different tones are formed in isolation and in a stack (for example, see PTL 1). The plurality of recording layers each include: a photothermal conversion material that absorbs infrared light in a specific wavelength region and generates heat; a coloring compound having an electron-donating property; and a color developer/reducer having an electron-accepting property. In a case where this reversible multicolor recording medium is irradiated with infrared light in a specific wavelength region, only a recording layer containing a corresponding photothermal conversion material makes a reversible change in color, i.e., produces color or decolors. Furthermore, a heat-insulating layer is provided between the plurality of recording layers to avoid interlayer heat conduction.